(PharmaNewsWire.Com, June 10, 2021 ) Qualiket Research has recently published a new report entitled Global Peak Flow Meters Market Size, Trends & Growth Opportunity, By Product Type (Electronic Meter and Mechanical Meter), By Application (Asthma, Chronic Obstructive Pulmonary Disease, and Others), By Region and Forecast till 2027.
Peak flow meters referred as the medical devices used for asthma patients. These are classified into two types such as electronic meter and mechanical meter. These devices are used to measure the lungs function in the patient’s body.The Growing Prevalence of Respiratory Diseases Like COPD (Chronic Obstructive Pulmonary Diseases), Asthma, and Neurological Diseases is expected to boost the market growth.
The increase in cases of diseases like COPD (Chronic Obstructive Pulmonary Diseases), asthma, and neurological diseases is expected to boost the demand for peak flow meter in the market which, in turn, will enable the growth of the global peak flow meters market. For instance, in 2017, according to the WHO (World Health Organization), around 235 million people suffered from the asthma which is a major non-communicable disease. Also, the growing geriatric population as well as R & D initiatives for asthma are some prominent driving factors expected to drive the target market growth over the forecast period.
Key Players
Key players covered as a part of this study include Vyaire Medical, Omron, Microlife, Vitalograph, Trudell Medical International, DeVilbiss Healthcare, GaleMed Corporation, Rossmax International, SHL Telemedicine, Fyne Dynamics, etc.
The Global Peak Flow Meters Market is segmented into product type such as Electronic Meter and Mechanical Meter. Electronic meter is expected to hold largest market share during this forecast period. These are easily adaptable and easy to operate. Further, market is segmented into application such as Asthma, Chronic Obstructive Pulmonary Disease, and Others. Asthma is a fastest growing segment, owing to the increase in prevalence as well as incidence of respiratory diseases across the globe.
Impact of COVID-19
Since the COVID-19 virus outbreak in December 2019, the disease has spread to across the globe with the World Health Organization (WHO) declaring it a public health emergency. For instance, as per the information provided by the World Health Organization report, as of May 15, 2020, there are around 4,307,287 individuals affected with coronavirus, worldwide. The increase in incidence of COVID-19 is expected to significantly affect the demand and supply of peak flow meter over the forecast period.
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Regional segmentation of the global peak flow meters market comprises North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to witness significant growth over the forecast period in the global peak flow meters market. Due to the increase in aging population, high incidence of asthma, patient awareness, and high per capita health care expenditure. For instance, according to the Asthma and Allergy Foundation of America, approximately 24 million people in the United States are affected with asthma, making it as one of the most common & costly disease in the region. Europe is also expected to witness growth in the global peak flow meters market owing to the favorable government policies regarding health care infrastructure & awareness programs. The market in APAC is expected to grow at higher rate due to increase in population, rise in mortality rate for asthma, changing lifestyle, growing awareness among patients, and increasing per capita expenditure.
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